Ringgit Edges Up vs US Dollar Ahead of FOMC Meeting

The ringgit opened higher against the US dollar on Wednesday morning ahead of the FOMC meeting, which is scheduled to take place from September 15-16, 2026.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the prevailing market sentiment is cautious due to various factors, including the upcoming Bank of Japan interest rate decision on September 18 and concerns about inflationary pressures.

The current crude oil prices are hovering at US$107 per barrel, which suggests elevated inflationary risks, Dr Mohd Afzanizam added. He also noted that the risk-off mode is expected to dominate market sentiments in the coming days.

In terms of trading, the ringgit strengthened against several major currencies, including the euro and British pound, but weakened against the Japanese yen.